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- Tasks: Manage the end-to-end process of Delegated Authority business and support new business onboarding.
- Company: Join a leading firm in the City of London, specialising in insurance and broking services.
- Benefits: Enjoy a dynamic work environment with opportunities for personal and professional development.
- Why this job: Be part of a collaborative team that values innovation and efficiency in the insurance market.
- Qualifications: Strong communication, organisational skills, and a basic understanding of FCA regulations required.
- Other info: Ideal for proactive individuals eager to learn and grow within the insurance industry.
The predicted salary is between 36000 - 60000 £ per year.
An integral appointment within the Delegated Authority unit responsible for the end to end process management of Delegated Authority business, primarily originating from North America. To provide comprehensive, timely and accurate DUA support to the Directors and wider Broking team in support of new business onboarding and account renewal.
Key Responsibilities & Accountabilities:
- Create and prepare Binding Authorities, lineslips, open market slips, slip endorsements and policy wordings, with particular emphasis on North American business.
- Binding Authority registration and maintenance in DCOM.
- Management of ATLAS records in conjunction with Coverholder clients.
- Monitoring and resolution of Coverholder audits via the Lloyd’s Delegated Audit Manager system, working directly with both Coverholders and Managing Agent Delegated Underwriting Teams.
- Respond to Compliance information requests from Managing Agent Delegated Underwriting Teams and Lloyd’s.
- Liaise with internal and external stakeholders to deliver a consistently excellent and comprehensive service.
- Deal with incoming technical enquiries from Clients, Underwriters and third parties.
- Review, advise and guide both team and clients on compliance matters, with a focus on Lloyd’s requirements.
- Assist in the creation and maintenance of comprehensive client and broking documents including renewal information.
- Provide input on any system that BMS is using or considering using, both internal and external.
- Run ad-hoc compliance projects as required.
- Maintain accurate records using the BMS electronic filing system.
- Adhere to company and regulatory policies, procedures together with mandatory training requirements.
Functional & Behavioural Competencies required:
- Excellent interpersonal and written communication skills.
- Excellent IT & organisational skills.
- Strong administration skills with the ability to use own initiative to solve problems, taking ownership.
- Ability to perform effectively to tight deadlines with good personal organisation and time management skills.
- High level of discretion and judgement.
- Anticipates problems in advance and makes contingencies.
- Proactive, always looking for ways of delivering a better or more efficient service.
- Excellent telephone manner.
- Communicates clearly; effectively contributes to the team and interacts with others.
- Excellent attention to details and ability to plan meticulously.
- Maintain strong relationships with Clients and Underwriters.
- Demonstrate commitment to continuous personal and professional development through active participation in development events.
- Understanding of the process and procedures within the insurance market.
- Basic technical knowledge of FCA regulations as they pertain to Binding Authorities and the Role a Lloyd’s broker plays in respect of third party binders.
- Knowledge of Eclipse/Sequel.
- Personally demonstrate the five BMS values and ensure that team members are aligned with these: Accountable, Entrepreneurial, Collaborative, Empowering, Disciplined.
Broker Support & Delegated Underwriting Technician employer: BMS Group
Contact Detail:
BMS Group Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Broker Support & Delegated Underwriting Technician
✨Tip Number 1
Familiarise yourself with the specific processes and terminology used in Delegated Authority business, especially those related to North American markets. This knowledge will not only help you understand the role better but also demonstrate your commitment and readiness during interviews.
✨Tip Number 2
Network with professionals already working in the insurance sector, particularly those involved in underwriting and compliance. Engaging with them can provide valuable insights into the role and may even lead to referrals or recommendations.
✨Tip Number 3
Stay updated on the latest FCA regulations and Lloyd’s requirements that pertain to Binding Authorities. Showing that you are proactive about compliance will set you apart as a candidate who understands the importance of regulatory frameworks in this role.
✨Tip Number 4
Prepare to discuss your organisational and problem-solving skills in detail. Think of specific examples where you've successfully managed tight deadlines or resolved complex issues, as these are key competencies for the Broker Support & Delegated Underwriting Technician position.
We think you need these skills to ace Broker Support & Delegated Underwriting Technician
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience and skills that align with the Broker Support & Delegated Underwriting Technician role. Emphasise your knowledge of the insurance market, particularly in relation to North American business and compliance matters.
Craft a Compelling Cover Letter: Write a cover letter that showcases your understanding of the key responsibilities outlined in the job description. Mention specific examples of how your previous experience has prepared you for this role, especially in managing delegated authority processes and liaising with stakeholders.
Highlight Relevant Skills: In your application, focus on your excellent interpersonal and written communication skills, as well as your IT and organisational abilities. Provide examples of how you've used these skills in past roles to solve problems and deliver efficient service.
Showcase Continuous Development: Demonstrate your commitment to personal and professional growth by mentioning any relevant training or development events you've participated in. This shows that you are proactive and dedicated to improving your skills in the insurance sector.
How to prepare for a job interview at BMS Group
✨Know Your Technical Stuff
Make sure you brush up on your knowledge of Binding Authorities and the insurance market, especially regarding North American business. Familiarity with FCA regulations and systems like Eclipse/Sequel will give you an edge.
✨Showcase Your Communication Skills
Since this role requires excellent interpersonal and written communication skills, be prepared to demonstrate these during the interview. Practice articulating your thoughts clearly and concisely, as well as how you handle technical enquiries.
✨Highlight Your Problem-Solving Abilities
The job involves managing various processes and resolving issues. Be ready to share examples of how you've taken initiative to solve problems in previous roles, showcasing your ability to work under pressure and meet tight deadlines.
✨Emphasise Team Collaboration
This position requires liaising with internal and external stakeholders, so it's important to highlight your collaborative skills. Share experiences where you've successfully worked within a team or contributed to group projects, aligning with the company's values.
